HudBay Minerals (HBM) closed the most recent trading day at $10.12, moving -2.13% from the previous trading session. This move lagged the S&P 500's daily gain of 0.32%. On the other hand, the Dow registered a gain of 0.53%, and the technology-centric Nasdaq increased by 0.26%.
The mining company's stock has climbed by 4.66% in the past month, exceeding the Basic Materials sector's gain of 0.43% and the S&P 500's gain of 4.51%.
The upcoming earnings release of HudBay Minerals will be of great interest to investors. Our most recent consensus estimate is calling for quarterly revenue of $551.91 million, up 29.7% from the year-ago period.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $0.69 per share and revenue of $2.22 billion. These totals would mark changes of +43.75% and +9.67%, respectively, from last year.
Any recent changes to analyst estimates for HudBay Minerals should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 5.05% higher within the past month. HudBay Minerals presently features a Zacks Rank of #1 (Strong Buy).
Looking at valuation, HudBay Minerals is presently trading at a Forward P/E ratio of 14.9. This denotes a discount relative to the industry average Forward P/E of 20.83.
Meanwhile, HBM's PEG ratio is currently 0.29. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. HBM's industry had an average PEG ratio of 0.82 as of yesterday's close.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This industry, currently bearing a Zacks Industry Rank of 164, finds itself in the bottom 34% echelons of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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HudBay Minerals Inc (HBM): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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